There are many different types of financial planners. Not only are financial advisors compensated differently, but the services they offer vary quite a bit also. Here's a quick summary of the different types of financial advisors and how they can help you.

Commission Based Brokers: These financial advisors focus on investments and usually sell a product for a commission. Standard brokers are Edward Jones and Ameriprise. Whenever you work with a commissioned broker you can expect to get advice on asset allocation and investing your portfolio. Your broker may call you periodically to suggest brand-new investments for your portfolio. In exchange, the advisor would invest your funds and monitor your portfolio on a periodic basis (typically quarterly, but could possibly be more frequent).

Investment Managers: Investment managers or investment advisors manage your investments for you, usually for a percentage of the assets managed. The typical payment can range from 0.5% up to 2.5% of the assets under management. Though some investment managers may also provide financial planning, the focus is on investments.

Fee Only Financial Planners: With a fee only financial planner, you'll pay out an hourly fee for the advice you receive. Fee only financial planners offer much more than just investment advice. With a fee only financial planner you will typically receive a complete financial plan, including budgeting, investment advice, retirement planning, insurance policy reviews, tax planning and estate planning.

Everyone has different needs, so the type of advisor that is right for you will rely on your financial needs and goals. Do you just need someone to recommend a suitable mutual fund, or do you need hands on investment management, or do you want a comprehensive financial plan to help ensure you're on track to retire?

New Policies Mean A Lot More People Doing Roth IRA Conversions In 2010
As we near the end of 2010, countless people have already done Roth IRA conversions, and many others are questioning if a Roth IRA conversion in 2010 is the right move for them.

Why Women Need To Know Regarding Social Security Spouse And Survivor Benefits
When Social Security was established most women did not work. Lower or no earnings combined with a longer life span meant poverty for many women when their husbands passed away. Social Security recognized these challenges and have implemented several changes to the system to help women avoid poverty.

Saving For Retirement- It's No Longer Your Parents Retirement
Getting ready for retirement is a lot harder than it used to be. Companies no longer offer pensions and many are reducing or eliminating matching contributions to 401K plans. In addition, Social Security benefits are expected to be smaller and you may have to wait longer to collect them.

Spousal Benefits: Applying For Social Security Benefits
Can a spouse collect on her husband's social security if she reaches retirement age before her husband? No. In order for a wife to collect Social Security benefits on her husband's earnings the following requirements must be met:

Retirement Savings Become Even More Important As Pensions Become Extinct And Social Security Changes.
Retirement income is often referred to as the three-legged stool because traditionally retirement income has come from three sources: pensions, Social Security and your own savings. Well, the three-legged stool is looking pretty lopsided for many people these days as pensions become extinct and Social Security changes take place.

A Few Of The Major Exceptional Roth IRA Withdrawal Rules That May Aid You To Take Money Out Of Roth IRA
Roth IRAs are governed by the IRS; as such there are many Roth IRA withdrawal rules that must be followed before you take money out of your account. In this article we'll discuss Roth IRA distributions; when they can be taken, when and if they are taxable, when and if penalties might apply.

Social Security Benefits: Several Crucial Details On COLA
For the second year in a row people who rely on Social Security will not be receiving a cost of living increase. This is only the second time since the cost of living adjustment (COLA) was adopted that recipients have not received an increase.

Social Security Death Benefits Can Aid Financially Once Husband Or Wife Or Other Loved One Has Passed Away
Qualifying relatives of individuals who have passed away can receive assistance from social security death benefits. The payments provided vary and depend on a number of things such as the payments that have been made to social security as well as the relationship of the relative to the individual.

Tips To Submit An Application For Social Security Benefits
Social Security was originally created to provide retirement benefits to workers, but the program has grown tremendously and now Social Security provides disability benefits, death benefits and other family benefits in addition to retirement benefits.

Want To Acquire A Social Security Cost Of Living Increase-Read This
A cost-of-living increase is basically a reassessment of the average amount of money that a person needs in order to survive. Cost of living increases are often provided by employers to employees to make sure that people's incomes are substantial enough for them to meet the basic costs of living.